PROPERTY DESCRIPTION: 134.3 acres bordering Utopia Avenue & Tiger Lake, Norwood Young America PID: 11.0151100 (Approximately 126.56 tillable acres) 2 building eligibilities allocated with the property. Farm land is in Ag Preserve. Fall fertilizer was applied. Proposed 2016 Real Estate Taxes: $7,095.41 TERMS AND CONDITIONS Down Payment: $30,000 non-refundable earnest money will be paid immediately following close of auction, in the form of a cashier’s check made payable to yourself, to be endorsed to Fahey & Associates, Inc. if you are the successful bidder. The successful bidder will be required to enter into a written purchase agreement with the Seller immediately following the close of auction bidding. A copy of the agreements are available for inspection at the office of the auctioneer. If for any reason, (except Seller’s default), the bidder fails to close the transaction, the earnest money will be forfeited. Closing: Closing on this property will take place at the Title Company of Seller’s choice on or before March 18th 2016, the date of closing and possession. Financing Terms: $30,000 non-refundable earnest money down on purchase agreement immediately following the close of auction. The balance in full is due on or before March 18th, 2016, the date of closing and possession. Buyer to have financing arrangements made prior to the auction with no contingencies of any kind accepted start of auction bidding to auction closing. A 6% buyers premium applies on this property and shall be made part of the purchase price. The property will be sold by the acre, based on the taxable 134.3 acres more or less computed 134.3 times the bid amount. plus the buyers premium, This property will be sold with a reserve of $6,200 per acre and will sell absolute over and above that bid amount plus the 6% buyers premium. 1031 tax exchange language is available in the purchase agreement, however, any 1031 tax exchange shall not alter the terms, conditions, or closing date in this transaction. Title: The property will be sold free and clear from any and all liens and encumbrances, but subject to any easements, restrictions, zoning, environmental, or other municipal, federal and state laws, right of way or other matters of record. The Seller will provide the Buyer with a copy of any owner’s title insurance policy or abstract for the property, if in Seller’s possession or control, to Buyer or Buyer’s designated title service provider, and Buyer shall obtain the title services determined necessary or desirable by Buyer or Buyer’s lender, including but not limited to title searches, title examinations, abstracting, title insurance commitment or an attorney’s title opinion at Buyer’s selection and cost and provide a copy to Seller. Taxes: The real estate taxes due and payable in the year 2016 will be the responsibility of the Buyer. Seller’s Estate and Auctioneers Disclaimer: All announcements and updates made by the auction company on the website shall take precedence over any previously written material or oral statements made. The information contained in the poster, agreement & website is subject to verification by all parties relying on it, no guarantee, expressed or implied, is given. No liability for its accuracy, error or omissions is assumed by the owners estate or the agents. The property will be sold “as-is”. Fahey & Associates, Inc. is representing the Seller in this transaction. Dual agency may apply. Any buyer who wishes to be represented by another real estate company may do so, in that case, any compensation paid to another real estate company will be solely at the buyer’s expense. For more information on this real estate on-line auction, contact Timothy E. Fahey at 612-282-5832 — Brenda Schmitz at 612-282-5977 Anthony Fischer 218-330-7115 Fahey & Associates, Inc. Realtors—Auctioneers—Appraisers www.faheyraa.com 512 Faxon Road, PO Box 627, Norwood Young America, MN 55368 Office: 952-467-359 Fax: 952-467-3580 Toll Free: 888-467-3799 This auction is managed and conducted by Fahey & Associates, Inc. Auctioneers of Norwood Young America License Numbers: Timothy E. Fahey 10-11 ...more